However (I'm an insurance agent not an attorney) the legal wrangling of the PM not taking a necessary action could set up a situation where the insurance carrier pays then subrogates back against the PM company for their inaction so the property manager should also have appropriate general liability coverage for their business.This next part can change by state and insurance carrier...Being named as lienholder or mortgagee can set up the lender being involved on the payout of any damages - say there is a fire the checks cut for damage could name the insured and lender so both parties have to agree how those funds will be used.Some carriers have a rule that if the loss amount is under a certain dollar amount the check is only cut in the owners name / if the loss exceeds a threshold (say $25k) the check is cut in both the owner and mortgagee names.Being named as loss payee is literally that - the check is cut in your name or both the insured and your name. 

About a month ago I had a contractor replace a roof that got damaged from a storm but when they had the shingles off another storm blew through overnight and blew the tarp off and a lot of water got in the house.

Document the condition thoroughly for future reference and estimates.If the property is of interest, it’s crucial to have professionals assess potential structural damage, electrical issues, or mold remediation costs.

For now, just know we had a few years of much higher than normal inflation and it caused permanent damage in the form of higher input prices to build a home.RegulationsThe second cost of a home is regulatory policy.

@Barry Ratliff, your question touches on two important aspects of tornado damage and HOA management.

To top it off their contractor used a saw to remove their lockbox and cut into my front door badly damaging it in several places, and they will not address that either.

We have strong tenant pools so almost never have significant damages anyways (I never have on north side).

The upsides gotta be worth it for the brain damage of it all. 

Modern lumber is also a lot more prone to termite damage as it is softer and easier to consume whereas old lumber is extremely resinous and naturally termite resistant.

About two years ago I purchased a home damaged by a fire to rehab and flip.